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off that fiscal cliff. the deadline's tuesday. if the deal isn't reached, taxes will go up on just about everybody. and massive spending cuts will kick in. >>> in india, the young woman gang-raped on a new delhi bus is dead. doctors say she died peacefully at that singapore hospital where she was being treated. authorities plan to add murder charges against the six suspects arrested in that rape. the charges will be filed thursday. angry protesters have been demanding justice and more protection for women. and police expect more demonstrations in the days to come. >>> four people are dead after a plane crashed at the moscow airport. four others were injured. eight people were on board, all of them crew members when the plane overshot the runway. don't go away. at 2:00 p.m. eastern, the top stories of the day including that growing outrage over russia's adoption ban. hundreds of americans are frantic after being told their adoptions are not going to go through. we'll also take a look back at the year in politics and the fierce battles the unexpected alliances and of course the best
serious tax hikes and spending cuts that would potentially send the u.s. into another recession. we don't want to see that a. right now senate leaders are trying to assemble a last minute tax deal that they hope can pass both chambers of congress. and make it to the president's desk before monday's midnight deadline. chief congressional correspondent mike emmanuel has more on this. what are the latest on these talks to avoid a fiscal catastrophe? >> the key negotiators have been tight lipped, which may be a good sign talking to one another and not to reporters. senate majority leader harry reid and mitch mcconnell asked president obama and other congressional leaders to give them time to work on a compromise deal, recognizing time is running out. again today, the president emphasized the need for action. >> and congress can prehave not it from happening if they act now. leaders in congress are working on a way to prevent this tax hike on the middle class and i believe we may be able to reach an agreement that can pass both houses in time. >> we are told conversations are taking place. m
in tax revenue on the table. what do i get for that? allegedly we understand president obama came back to him and said, you get nothing. i get that for free. you get nothing. >> there were a couple eye-opening quotes. a "wall street journal" story before christmas that went through the timeline of how this happened between painer and the president -- boehner and the president. boehner put the rough knee on the table and the president saying that's what i get out of the gate. you get nothing for that, which was a surprise to the speaker. he said if we go over the cliff, that the president threatened boehner, he said i will use my inaugural address to blame you for tax increases and for the fiscal cliff going overboard. that brings out pretty big guns when it comes to a president's bully pulpit. if atlantes to use that to play politics, that's significant. >> i have to bring this up. but how did they get to the point where the speaker tried to bring a vote to his caucus to be rejected? how did they not see that coming in why did he bother trying to bring the vote? >> because there's two
plan b to let bush-era tax cuts expire for earners making more than a million dollars a year. and he wants to replace automatic cuts in defense spending set to start early next year with unspecified cuts elsewhere. the speaker pulled his so-called plan b for lack of support from his own party because many republicans still beholden to grover norquist and that ridiculous pledge want no compromise at all. the debate between the two sides centers around a balanced approach to the budget. republicans say president obama wants too much revenue. that's taxes in normal speak. and not enough cuts. >> at some point we have to address the spending problem we have. we can't cut our way to prosperity. we need real economic growth. many of us believe on both sides of the aisle the fundamental reform of our tax code will help us get your economy moving faster and put more americans back to work. how we get there god only knows. >> president obama doesn't see it that way. >> at some point there's got to be i think a recognition on the part of my republican friends th that, you know, take the deal.
cuts and tax hikes for nearly every american. i'm gregg jarrett. welcome to a brand-new hour. >> arthel: i'm art article. 11th how-hour scrambling after a meeting with president obama and leaders from the house and senate with high noon fast approaching, president is pushing to seal the deal. >> modestly optimistic that an agreement can be achieved. nobody is going to get hundred percent of what they want. let's make sure that middle-class families and the american economy and in fact the world economy are not adversely impacted because people can do their can't do their jobs. >> arthel: now the latest. >> discussions are ongoing but we shouldn't expect any announcements before senators are briefed. key players are pretty tight-lipped. after a white house meeting yesterday, one of the top negotiators sounded hopeful. >> we had a longs meeting in the white house, very constructive. we hope that it will bear fruit. i think that the next 24 hours will be very instructive as to what we're able to accomplish. >> reporter: sources say john boehner referred to his senate colleagues and told th
think that we will get some kind of last minute deal, which raises taxes on people who are successful, making serious money. forget about any spending cuts, i don't think that's going to happen and they make promises, but they're not actually going to do it and they'll simply ignore the debt. i think that's what's going to happen. do you agree? >> i'll take that bet. i don't think that's going to happen. i don't think that republicans will agree to any tax increases without spending cuts. i think they've been clear about that. stuart: we go over the cliff. >> they're not going to cave. i think they're going to extend the deed line and see credit downgrade. and i think we're going to fight about this through 2013 unfortunately. stuart: and as if falling off the fiscal cliff isn't enough to push us off another recession, it could of course. tomorrow at midnight a longshoremen's strike could shut down ports at east coast and the gulf. and the strike could disrupt about, we figure, 2 million tons of imported cargo per day and of course, it would cost the economy billions. it could have ma
in the democrats' court saying the debt is too high, spending out of control and taxes should not go up. in the g.o.p.'s weekly address, he accused the president and the democrats of refusing to accept a reasonable compromise. >> the best way to address our crippling debt is to make significant spending cuts and fix our tax code. to pave the way for long term growth and opportunity. this is an approach most americans support and remains republicans' highest priority. but we only run the house. democrats continue to run washington. >> reporter: the president left town for his traditional christmas in hawaii and he and his family arriving there this morning and he has gotten in a round of golf already. before leaving the white house, he stayed back hayes spe-- scal back his expectations, and he said it is time for compromise. >> president barack obama: we move forward together sore we don't move forward at all. so, as we leave town for a few days to be with our families for the holidays, i hope it gives everybody perspective. >> reporter: if nothing is done by the end of the year taxes go up on eve
is what is said. the legislation has the expiration of the tax cuts after 10 years. if nothing is done, all tax rates go up. what you see happening allowing some of them to go, all of them to go up, it is a very difficult situation for speaker boehner and the house republicans to be in. i feel very sorry for them. they are caught in a trap. lou: a trap, a conundrum that was perfectly visible. it was transparent where we would be. and the republicans, the republican leadership, the republican national committee. all of the so-called wise men and women of the party did absolutely nothing to prepare for this strategic moment, and they are coming up woefully short. >> that's very true. you knew it happened 10 years ago when there was a provision that this was going to happen. here it is. i think the key for the republicans from my standpoint is to get this over with as quickly as possible. the serious business of trying to prevent spending increases and other programs. without giving up the position of republicans and being able to get those tax cuts. we will have an awful 2013 and 2000 pu
to the contraception mandate. so much for the social values. they support proposition 30 in california to raise taxes one upper income californians and to raise the sales tax because hispanics remain at the lower level of the economic ladder and they use government welfare programs at a very high rate.t . lou: i welcome this discussion. now being by the republicans one reforming our immigration laws. but i hope there is not a rush to judgment somehow loses across a vast sea of facts and realities that have been avoided by both political parties. the american people really need to understand what is happening the hispanic community needs to understand what is happening.de the idea that this countryhere should be selecting those of prince and the united states based on their skills or bgo talents, that has to be a tough sell when theug land bridge istt downe south. >> that is white amnesty is very risky because it means that stopping the flow of illegal aliens from that land bridge will be even more difficult. lou: if there is an amnesty, to be the the third in the last 26 years and it will be somethi
. that whole fiscal cliff thing, where congress and the white house can't reach a deal on taxes and spending before the end of the year and they maybe get us into a recession, it's definitely happening. that was the whole point of president obama's press conference this afternoon. >> i still want to get this done. it's the right thing to do for our families, for our businesses, and for our entire economy. but the hour for immediate action is here. it is now. >> allow me a quick update here. that press conference, it came after president obama met with john boehner and nancy pelosi and harry reid and mitch mcconnell, so all the key congressional leaders. and listen to the president here. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable. why everything always has to wait until the last minute. well, we're now at the last minute. and the american people are not going to have any patience for a politically s
and find some kind of agreement on taxes and spending. tonight the president's position as he sits down exclusively with nbc news. >>> here we go again. another big winter storm blankets the northeast. tonight the latest on where it's headed and how it's affecting holiday travel. >>> high profits from marijuana, at least that's what some entrepreneurs are hoping for as they see big potential in states where pot is legal. >>> and can't stay away. what happened when the parents of one college student just couldn't let go? she gave them a lesson they never expected. >> good evening. the deadline looms less than three days away now and still no sign that congressional leaders have come up with a deal to avoid the so-called fiscal cliff. the president again today called on lawmakers to act before taxes automatically go up for every american and spending cuts kick in. but republicans aren't happy with the proposal the white house is offering. so on a saturday night, washington is still at a stalemate and the public is pretty clearly growing frustrated. david gregory sat down exclusively with
, if you are at work you can make some really good buys. you have the january effect, the tax loss selling going on all month. this year is an unusual year in that you have also not just tax loss selling but you have people taking gains on stocks that they've held for years that they're trying to take advantage of, the 15% capital gains rate. we've seen a lot of that. the point is there's been a lot more selling this december. i look for several stocks to bounce back in early january. >> you are on hold until you can see the whites of their ey in washington. right? i mean, you're waiting to see what happens with this fiscal cliff? >> i am. i tell you, i think that the christmas gift people are getting right now is to sell above 13,000. we were surprised we're not getting a deal. i'm surprised the market's as firm as it is and it is very easy to overthink this. well, must be firm. the bulls are strong. hey, we go higher. i think that's not the read at all. i think the initial reaction we got when they sent the house of representatives home on thursday night is what we're going to see when t
brought before the house, keeping the middle-class tax cuts, but not those for the upper income, and making sure the alternative minimum tax did not go into effect -- i think it would pass with a coalition. and i think the same could be true of unemployment insurance. 2 million people will lose their federal benefits tomorrow, if we don't have. 2 million people. >> when we snowe the fiscal cliff was imposed as a stopgap on you and all of your colleagues on the hill, are you disappointed that you've had to see it come down to the wire like this? this is basically a self-designed fiscal nightmare that you and all of your colleagues have created. are you disappointed that we haven't been ability to get it together more? >> absolutely. it shouldn't happen this way, but the republican conference showed last week how divided they are. >> there are republicans who don't want to vote for any tax increase. that's timied actions here. in the senate, i heard senator mcconnell that the november election -- that isn't true. the president was out there clearly saying there should be a continu
brink and taxes going up for all americans. so far, there's been no call for the house to get back to the hill. senators return to the capitol tomorrow. the question remains krks the president join congress and surf the rough political waters to get a deal in time? >> i think he's doing all he can and calving hell at the same time and there's give, give. i think it's very, very difficult, particularly after boehner's plan "b" failed. >> the key issue i think and the american people are catching on is that the problem that we have is we have a right wing political figure in the house way, way, way out of touch of what the american people are thinking. >>> there's early economic sinls that the uncertainty over the cliff may have clayed the role of scrooge this holiday season. early holiday numbers point to the worst year to year growth since 2008. >>> i think the president is steward of this economy needs to try to reach the big compromise with speaker boehner and the two men came very close. >> all right. let's check in and say good morning to nbc news correspondent mike vi cara now
for political purposes. i think he sees a political victory at the bottom of the cliff. gets additional tax revenue for new programs, gets to cut the military and blame republicans for it. >> attention now turns to the senate which will reconvene on thursday. the 27th. house majority leader harry reid now has the task of trying to cobble something together that could perhaps pass the senate and also pass the house with some republican support. the expectation would be some democratic support. the white house is still calling for the threshold on tax cuts to be a quarter million. it seems unlikely republicans would sign on the that, and officially president obama is supposed to be remaining here in hawaii through the new year, it seems likely he will be heading back to washington sometimes around when the senate convenes. and in the meantime, just up in the air about what is going to happen. is it going to be a very unmerry cliff-mass? perhaps. >> i feel like we should pause and listen to the best sound in the world behind you. the waves crashing on the beach. >> pretty good. thanks. >>> dan
think republicans at this point fear casting a career-threatening vote to raise taxes instead of waiting four days and letting the cliff -- >> and then they can technically say -- >> they're voting for a tax cut. >> do they presume the voters are that dumb? they think there's a difference? they might think that. >> they might. >> do they think the voters are that dumb to think three days difference in how you vote with the exact same result exonerates for having been an apostate on the hard world tea party? >> i think a lot of the republicans aren't worried about the general voter at large or what the national polls say -- >> only their base is stupid. they think only their base is stupid is what you're saying? >> they're worried about a primary on the right -- >> why would -- >> i don't want a democrat coming at me -- >> i know all that. let's get to the bottom line. they are arguing in their minds that they're safer to vote to keep the country going next week sometime rather than this week because they believe that the people who think they're great on the hard right will be confused.
: on saturday they will try to agree on legislation preventing income tax, providing pay cuts to medicare providers and fixing the alternative tax. the president says an agreement must include an extension of unemployment benefits. republicans called for a measure to overt and estate tax hike. >> nobody's going to get 100% of what they want. >> reporter: on sunday, they'll try to get their senators to back the vote and schedule a vote. so the pressure is on for senator majority leader harry reid, and mitch mcconnell, be sure no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor and leader nancy pelosi to predict a huge number of democrats needed to pass it. but if that plan falling through -- >> then i will urge senator reid to bring to the floor a basic package for an up or down vote. >> reporter: the president's basic package has much more for democrats to like. so don't expect that to get very far, but all sides now agree the senate must first pass a bill before the house makes any kind of move. so all eyes will be on mitch mcco
leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> yesterday the house speaker john boehner failed to garner enough support from his own party to even hold a vote on his plan to raise taxes for those with an income over $1 million. >> while we may have not been able to get the votes last night, to avert 99.81% of the tax increases, i don't think they weren't taking that out on me. they were dealing with the perception that somebody might accuse them of raising taxes. >> "outfront" tonight, chief white house correspondent jessica yellin and dana bash. ladies, nice to see both of you. jessica, we'll start with you. the president's message was short and sweet and kind of basic. what do you think is different this time around in what he is saying? >> well, what's different is it is less than two weeks until the new year and the president is about to leave
-class tax cuts are extended for everyone, while the higher rates go up, we also put off the rest of the details for later. the president is pushing for something. that said the optics are important because everybody wants to look like they're working this issue. >> probably the worst-case scenario will be today. we will kick the can down the road, do a small deal and create another fiscal cliff to deal with this. again a total lack of courage, lack of leadership. >> could they create another cliff? >> it's almost as if they're bouncing off one before bouncing on another further down the canyon. simply by the way the senate and the housework, how the wheels of legislating turn basically, it's nearly impossibility for things to get done before new year's eve unless both chambers lock themselves in those chambers until monday evening. to try to get some of this done. as was sort of already being talked about, as this deadline approached anyway. >> folks are saying, look, it's already so bad, it doesn't work the first time. >> yeah, all the things set to expire would still conceivabl
a fiscal crisis collapsed a so-called plan b after some conservatives balked at p provisions to let tax rates rise on those making over a million dollars. is there a plan c or over the fiscal cliff. dan henninger, editorial board member. mary anastasia o'grady and jason riley. where do we stand right now with the collapse of plan b? >> well, it's no fun being john boehner right now. he's still in a tight spot and the concern that the republicans have is that obama's panel strength and as we go over the cliff and tax rates go up. but i really think the buck stops with the president here. when you go into the negotiating sessions, paul and you're expected to make concessions, but you're expect today get something in return and boehner made a major concession on rights and the president is giving him nothing in return to take that to his caucus and say, this is what happened in the horse trading. it's all or nothing, obama seems determined to humiliate the opposition. >> paul: boehner made two concessions, first 800 billion on the table in revenue and don't raise rates when the president s
to work toward a package that prevents a tax hike on middle class americans. >> this is something within our capacity to solve. it doesn't take that much work. we just have to do the right thing. so call me a hopeless optimist, but i still think we can get it done. >> earlier in the day, speaker boehner held a news conference. a vote on his so-called plan "b" was scrapped thursday night when it became clear it did not have enough support among house republicans to secure passage. >> a situation where because of the political divide in the country, because of the divide here in washington, trying to bridge these differences has been difficult. if it were easy, i'll guarantee you this would have been done decades before. >> joining me now, congressional reporter for "the washington post," ed o'keefe. good to see you. >> good to see you too. any kind of realistic timetable that this will be done before january 1st? >> what the president is most concerned about now, making sure unemployment insurance is extended for those that need it and where taxes remain where they are for people making u
, whether it's the effects of the fed's monetary policy, year end, fiscal cliff tax related issues. the motivations are a little bit different this time around than they were last year. >> yeah. it's not as pressing, some would argue. some were actually saying on friday, maybe it would have been better if the markets had a sharper sell-off because that could have forced the lawmakers to do something as opposed to leave for obama to have a hastily called friday evening press conference saying, you know what, congress, you have ten days, you go work it out. it's doable. >> it's been an interesting year. of course, we started off so well, in terms of expectations for economic growth. we had an election this year, too. i think that's another thing that is sort of the key. we hit europe again as we had the last two years previously. but this last quarter, i think there's been a lot more optimism, even with the fiscal cliff sitting there, as sort of this potential, real roadblock at the end of the year. perhaps even too much optimism some would say. when you speak to ceos, there's still
they're principally opposed to tax increases that we don't have a revenue problem that we have a spending problem. to be on record as voting for a very anti-growth tax increase, i think, would imperil their house majority. >> and stf with just new years avenue, december 31st he. but he says actually the drop dead is the 27th to do the technicalities they have to do to pass by the end of the year. december 27th, that's just really a few minutes away. are they going to be able to do anything by then? >> they clearly could do something, but i think it's important for the republicans at this point to sit back and realize they've made a compromise. president obama walked away. now, the ball is in his court to actually give them something much better. if not these tax increases are going to be his, he'll own them and that's what they should want, rather than vote for something that's really going to hurt, hurt their reputation as being against tax increases. >> alisyn: but of course, the president, for whatever reason, thinks that polls and the public and his presidential win and the
iing mak the taxes like them. john boehner could not even pass the tax proposal he passed over there. he said no, can't do that. didn't he bring it up for a vote? >> tonight, speaker boehner's office put out this statement. >> joining me now are our guests. clearly the positioning game continues. harry reid saying we did our job months ago. do you think we til would be@posturing stage at the end of that white house meeting tomorrow? >> in your introduction you made the fundamental point here which is that this agreement before the end of the year, simply cannot go forward unless john by nor is willing to let it do so with majority democrats in the house. if we go over the curve as you put it, they can vote for a large tax decrease becaused off of the new rates that would be reset. they can say we votes to cut taxes for 98% of households. but it is the only scenario that i cap see out there in the near term. >> the building that read has passed. let's lis ep to what mitch mcconnell said about that? >> the senate bill passed with ome democratic votes and despite this repeated calls for
tax code will help us get our economy moving faster and put more americans back to work. and more americans on -- how we get there, god only knows. >> i asked for a compromise from members of congress, i met them more than halfway on spending and met them halfway on taxes. in terms of actual dollar amounts, we're not that far apart. as of today, i am still ready and willing to get a comprehensive package done. >> but time is running out. to reach an agreement, there are now just ten days left until automatic tax hikes and spending cuts do take effect. the s&p 500 and the nasdaq finished in some negative territory for the day. investors fear the country could slide back into recession if there's no deal to prevent automatic tax hikes and spending cuts. >>> staying in washington, senator john kerry is in line for a new job. president obama officially nominated kerry to be the next secretary of state. he's currently the chairman of the senate foreign relations committee. secretary of state hillary clinton said she wanted to leave the job after president obama's first term. >>> well,
. lawmakers may not be able to stop one of the largest tax hikes in u.s. history. >> i'm optimistic we may still be able to reach an agreement that can pass both houses in time. >> we'll be working hard to try to see if we can get there in the next 24 hours. >> harris: the man made economic nose dive just days away. can they get a deal done? >> if we don't have a deal within the next 24 hours, the question is, whether you where do you buy a parachute. >> the last minute move to save us from the fiscal cliff. and, a shooting inside a politician. -- police station. officers down and a suspect dead. >> i saw them throw somebody into an ambulance. >> in moments, what we know about how this happened. and on very thin ice. >> the deeper you got out, the more ice was cracking. you just couldn't get to them. >> the rescue mission to pluck a man and a dog from a frozen river. i'm harris faulkner in for shepard smith. and president obama says tonight there is still time to get a deal done before we fall off the fiscal cliff. and he demanded congress take action now before it's too late. the presiden
he made. he limited the reach of the tax cut, changed the indexing of social security. he put that stuff in there to get republican votes. i think if john boehner -- and it would take courage, said we're going to let the whole housework its will, you can't pass a lot of reasonable bills if you worked from the center out instead of starting from the far right and see what they can take. it's clear they're not going to accept much of anything that might be helpful. >> red state was reporting 34 would bolt from the caucus. what's your thought here, e.j.? did the republicans do a disservice to themselves? >> absolutely. i think they took themselves out of the negotiation. in the end, the house has to approve something. you were mentioning that a deal could start in the senate. even if you get something through the senate, is it stalls has to pass the house. again it's john boehner taking a big political risk, but saying we're going to put together a coalition of republicans who want to govern and pass something together with democrats who want to govern and pass something. >>> i w
's a law passed that ensures 98% of americans know their taxes are not going to go up in just under two weeks. he also wants to make sure that 2 million americans who would otherwise lose their unemployment benefits if we went over the fiscal cliff would be able to keep those benefits. and finally he says, look, we can take a look at the longer term proposals, the larger reform at a later point. just lay the ground work at this point. we also know before the president left, he talked by phone with house speaker john boehner. he met in person with harry reid, although what the private happened, we don't know. but publicly things sound a lot like they have for the past few weeks. take a listen. >> every member of congress believes that, every democrat, every republican. so there is absolutely no rea n reason, none, not to protect these americans from a tax hike. at the very least, let's agree right now what we already agree on. let's get that done. >> what the president has offered so far simply won't do anything to solve our spending problem and begin to address our nation's crippling d
places you might feel it is in your paychex. the payroll tax holiday expires. that means $83 less per month if you make $50,000 a year. the bush era tax cuts expire, and it's not clear what the tax rate would be. but the average household would see a tax increase of $3500 a year. that is according to the fax policy center. what about the 2012 tax returns? well, there would no fix for the alternative minimum tax, and that would delay tax filings. as many as 100 million people might not be able to file their return until late march. that means tax refunds could also be delayed, and some major tax credits would expire as well including the child tax credit and the earned income tax credit. >>> from a mars landing to a deep water dive, scientific and technical breakthroughs this past year were amazing. here's john zarrella with a look at the top 10. >> at number 10 a revolutionary camera called litro. >> it's such a powerful technology breakthrough, that this will forever change how we take and experience pictures. >> it captures the entire light field ail louse the focus and perspective
to avert what we're calling the fiscal curb. a series of automatic tax increases and spending cuts to take affect a week from now. a moment this week, the two sides seemed on the cusp of a deal. that would have involved at least one major concession from president obama. to cut social security benefits. the cuts wouldn't have been direct. they would have come from a tweak to the way the social security benefits are calculated. here's how it works. right now the amount of money a retireee gets from the government gets is changed due to the index. when inflakes goes up, social security recipients see their payments go up the same amount to keep up with the cost of living. obama proposes switching to "chained cpi. "the name is opaque but the name is simple. the chained cpi rises more slow lie than regular cpi. if you yoois chain cpi to calculate social security benefits the amounts of the social security checks will rise more slowly, as well, against inflation. for about two days, this major concession opposed by many progressive lawmakers seemed close to becoming law until jeanne boehner wal
on taxes. speaking in the white house briefing room, president obama condemned congress for failing to resolve its differences in any normal way. >> christin, let's take a listen to what the president said about the up or down vote about what he expects to emerge from the senate. >> i just had a good and constructive discussion here at the white house with senate and house leadership about how to prevent this tax hike on the middle class. i'm optimistic. if an agreement isn't reached in time, between senate store reid and senator mcconnell, then i will urge senator reid to bring to the floor a basic package for an up or down vote. i believe such a proposal could pass with bipartisan majorities. >> this up or down vote seems to be the big news of the day. isn't this what the white house wanted all along? >> well, it is. it's president's obama's way of sayi ining vote on his basic proposal. it would extend in employment insurance ben filt fits and deal with unemployment insurance cuts. >> so the question is, could they actually get that many republicans to vote for this package that t
of tax cuts for incomes under $250,000, a couple of months, for example, a temporary turn-off of the sequester, the automatic cuts equally in defense and nondefense programs that nobody wants to happen, you temporarily turn those off, you extend unemployment benefits, you do something about doctor payments under medicare. if that happens, and clears the senate, there would be a bipartisan majority in the senate if it is allowed to get to the floor, then you would have to have speaker boehner agree to put that on the floor, it would pass the house almost certainly, but the speaker has been reluctant to put any bill on the floor for a vote that doesn't have the support of a majority of his own members, of republican members. he would have to breach that rule in order for it to happen before january 1st. >> which is no small feat, as we see. before we let you go, this business has been very forthright in its rise above campaign which basically tell political parties to get it together and do what was right for the country. i see other businesses particularly in d.c. beginning
speppeding problem and begins to the crippling debt. he wants more spending and tax hikes and that will hurt our economy . he refuses to challenge the members of his family to deal with entitlementriform and the big issues that are facing our nation. president obama said a deal could be reached but that appears unlikely. he took off for hawaii and landed with his family for a shorter than usual christmas break. he said he is it a hopeless optmist. he is scaling back and pushing for a tax cut for the middle class and calling for compromise. it can only pass from democrats and republicans and no one gets 100 percent of what they want. everyone has to give a bit in a sensible way. we move forward together or not at all. in addition to making bush era tax cuts permanent for the middle class. let president want to preserve unemployment benefits if congress doesn't act. that know amount to an achievable goal and something that can get dun before the end of the year. >> steve, thank you for that. and now turning to the scathing report against the state department. it is fueling out a debate over wh
a deal by december 31st would trigger tax hikes and spending hikes . and they say they are willing to continue to work toward a deal . the question is can they get it done in a time. here's steve in washington. will president obama focus on the fiscal cliff? do we know? >> probably not: there will not be done to much -- and president arrived in honolulu. within to his rented vacation home. he left washington last night after scaling back . it is still possible . he's focusing now on a middle class tax hike and extended unemployment benefits. and this congress laws can only pass for democrats and republicans and that means no one gets 100 percent of what they want. everybody has to give a little bit in a sensible way. we move forward together or we don't move forward at all . >> they are planing to stay in honoluluand planning to return right after christmas. harris. >> what is next for republicans . at this point speaker boehner is saying it is up to the president and democraticically senate . wouldn't have survived in the senate. it leaves the speaker in a difficult position espec
to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spen spending. >> boehner is saying that the stumbling block will lead to taxes on red ink and says the president plan "c" unveiled friday increases tax rates on some and punting reform of the entitlement program on medicare to some point next year. >> the best way to address the crippling debt is make significant spending cuts to fix the tax code to pave way for long-term growth and opportunity. >> likely that president obama will rush back on wednesday to come back to washington in hopes of debt deal by the end of the year. >> we'll see. >> doug: thank you very much. till ahead, bret baier brings in his family for special holiday greeting. but first, if you think there is consensus on where jesus was born, think again! [ mother ] you can't leave the table till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! you can stay in and share something... or yo
with that woman. ms. lewinsky. >> ronald reagan pushed through a tax overhaul in his second term. he also became embroiled in the iran contra affair. >> a few months ago, i told the american people i did not trade arms for hostages. my heart and my best intentions still tell me that's true, but the facts and the evidence tell me it is not. >> there is a bright side, if lincoln hadn't had a second term, he wouldn't have won the civil war. reagan's place in history was cemented by the end of the cold war, and fdr would have been remembered as the president who didn't end the great depression. still, second terms, they don't last four years. they're shorter than that. how long will obama have? is he aware that his second term domestically only lasts about a year to 18 months? finally, political junkies know we don't have to wait until 2016 or even 2014 for our next fix. just next year, we have blockbuster races for governor in two big states, virginia and new jersey. virginia, the clinton versus the tea party, as former democratic national leader takes on republican chair, ken puccinelli who put hi
that millionaires or people who make more than $250,000, you tax them more that's going to solve the deficit problem that's just not so. i think it would be better for the country if we go over the fiscal cliff. and i'm not sorry this has failed. i do not think this has helped john boehner's speakership. >> that quote right there certainly didn't help the president's stance either. if you tax all the people that make more than 250 k that is the solution. >> the cbo didn't help him either with those numbers because $250,000 tax the cbo has said wouldn't solve the problem. >> this barely makes a dent. >> you have to cut spending obviously and that's what we think that howard dean was alluding to. meanwhile, charles krauthammer had an interesting theory on "special report" last night in which he also tried to figure out what the president's ultimate strategy is and what game the president is playing. i had not heard this theory before. let's listen to charles krauthammer. >> if he was only interested in the budget, in the fiscally balancing it, he would have said i don't care how you get the money. can
this. they say they were, yeah, here is -- take a look at this. keeping tax cuts for those making $250,000 a year or less. we know that's there. that may shift because we are hearing from republicans they may be willing to go as high as $500,000 a year. of the extended. >> dave: that's my guess. >> extending unemployment tax benefits for 2 million folks still unemployed. delay sequestration cuts for defense until later in the year. >> dave: john boehner on friday says he does not want to limit sequestration unless you also have equal spending cuts. there is no chance of finding an extra 500 billion in spending cuts. not as far as democrats stand. here is harry reid on where the senate democrats stand at the 11th hour. >> if we come up with something, it's not that easy, we are dealing with big numbers some of the stuff we do is very complicated. i think it was a very positive meeting. there was not a lot of hilarity in the meeting. everyone knows how important it is. it took an extended period of time as you know waiting for us. everybody, whatever we come up with, is going to be imper
to put middle class families first by passing the senate's bill to protect 98% of americans from a tax hike on january 1st. the senate bill could pass tomorrow if house republicans would simply let it come to the floor. despite the impasse in washington, a new gallup poll shows 50% of people still believe it is likely that president obama and republicans will reach an agreement before we go over the curb on january 1st. among the believers is conservative weekly standard editor bill crystal. >> i think what will happen is republicans will be faced on monday, on december 31st, with having to vote on a much worse proposal than the one they didn't give speaker boehner the majority for. >> plan b. do we end up going over the cliff or not? >> i think not. on december 31st when both party members release their voters to vote their conscience, they save americans from a tax hike. >> the gallup poll shows 54% approve of how president obama is handling the vote, 26% approve of how speaker boehner is handling negotiations. 45% democratic leaders approve and 26% gop leaders approve of how they're
, millions of americans don't even know there are about $260 billion worth of obamacare taxes coming their way beginning january 1 in everything from medical devices traditional search taxes on investment income. it is about half the size of the fiscal cliff, if you will, tax hikes that could well be added to them if the year finishes the way we stand right now. >> absolutely, lou. i found it interesting if you read the affordable correct many of the onerous mandate created by obamacare were exempted for the unions so i found it interesting that the administration is looking out for the union and not looking out for the state and individual citizens to bearey the load of this. lou: your ground operation would have been a little stronger. you could have prevented people of laws.sorts you don't find that as fair and equitable, right? >> we challenged on constitutional grounds, w but dd not quite get it all. lou: more lawsuits to come and we will see how those, as well. the great state of south carolina. great for being with us. hsbc agrees to being a mexican drug cartel bank. terrorist
is reached in one week, the tax cuts enacted under president bush will expire and 1.2 trillion in spending cuts will automatically go into effect. if we do go over the fiscal cliff, how will it affect you from your paycheck to your retirement accounts? we're going to give you all the tips you need to protect yourself. here to do that this morning is ry ryan mac, president of opt middle school management. >> kudos for being able to pronounce that honolulu merry christmas saying. >> i don't think i can do it again. ahah! let's start with your paycheck as it applies to the fiscal cliff. if we go off the fiscal live how will mooirn and everybody's paycheck be affected? the majority of the paycheck won't be afeektded until 2014 when people file for 2013 stackses. there are certain things that are impacted right away like the payroll tax cut. for individuals earning about $50,000 a year, they'll be having to pay about $85 less because of the payroll tax cut will be expiring so that will be, again, almost $90 a month that will mere live come into play but the majority of the individuals when 2014
thought about governing and politics and things, you know, things like letting people see your tax returns, 12 years, which his father did, all that stuff. and so mitt romney having lived his life, built his life, to be able to do this, run his campaign is now at home tonight with his tax returns. he is the biggest loser in america. karen finney, biggest loser. >> biggest loser, anybody who was taking their cues from the mitt romney campaign's polls in that last couple of weeks and was out there talking about 300 electoral votes, that was really fun. >> joy? >> it was close, paul ryan, being associated with the biggest loser is almost as bad as being the loser. >> and history, you could go nowhere. >> this time, it was a tie between him and rupert murdoch. his entire news was exposed, fox news was literally exposed on election night. their entire narrative on election night was false, you had the phone-hacking scandal, so he is just a mess right now, a tie, slight edge over ryan. >> the biggest loser, a long-time coming. when i first started to work for senator cantwell, and people discuss
the massive tax increases and spending cuts that will take place in just eight days brianna keeler is in honolulu. i'm not going to tease you about hawaii being a junket, because i know it's hard work and you're doing something. >> thank you. >> absolutely. i'm a little jealous of the water and backdrop and sand. never mind. i won't hate here. tell us, are there any conversations that are going on between the president, the republicans, the democrats, anybody to aavoid the fiscal cliff? >> reporter: well, this is what may be alarming to learn, suzanne. obviously, the white house is always in concert with senate democrats. there's always an open line of communication there, but there are really no substantive discussions going on with the white house and senate democrats with republicans both in the house and the senate. that may seem troubling at this point, because obviously eyes are turning towards the senate as it is going to reconvene on thursd thursday. if this fiscal cliff is to be averted, it has to get through both the senate and house with some republican support. so you'r
of the fiscal cliff with just 36 days to go until tax increases kick, in the white house and congress are playing a high stakes game of let's make a deal. >> only in america believes there has to be this what i believe to be really farce ical now surely -- the nature of the world is very fast moving, america has huge economic problems, heading for another fiscal cliff, everyone laughing at you from afenway park the american public sick and tired of all the games going on and there are you, grover norquist, a very bright guy still resolutely saying a pledge is a pledge is a pledge, it cannot be broken when many of your own party are now saying you know, what it doesn't make sense to have this irresolute position anymore. >> two things, the pledge is not for life. but everybody who signed the pledge, including peter king, who tried to weasel out of it -- shame on him as the "new york sun" says tonight. i hope his wife understands commitments last a little longer than two years or something. >> whoa, hang on, hang on. that was a bit below the belt, grover. >> hey, if you think a commitme
pointing and no answers as i said and just days remaining until tax increases and spending cuts all kick in and we all feel the pain. mike emanuel live with the news for us tonight on capitol hill. top democrats seem to be suggesting they cannot cut a deal without republican help. >> well, harris, that is right. and so they are asking what it will take to at least get some republican support. they say time is so critical. they cannot just roll out new legislation only to have the republicans reject it. we know president obama called the top four congressional leaders last night on his way back from hawaii. tomorrow afternoon at the white house will be a meeting between the president and those top four congressional leaders and earlier the top senate democrat expressed concern or frustration saying you cannot legislate with yourself. >> the republicans in the house have left town. the negotiations between the president and the speaker have fallen apart as they have for the last three and a half years. we have tried mightily to get something done. >> now, perhaps in an effort to address t
federal tax rates rising. government spending shrinking. and defending on details of your own situation, various tax breaks slipping away. in other words what we're calling the fiscal cliff. a plan to stop it all from happening still alludes washington, so congress has broken camp for the holidays and the president has gone to holiday on vacation. brianna keilar is out there for us in honolulu, eight days away from the fiscal cliff. are there any contacts occurring on this topic between the president and anyone in congress, briana? >> reporter: there is an open line of communication, i would say, with senate democrats, hala. but there is really no substantive conversations between the folks that you with need for there to be conversations between in order to strike a deal. the white house and congressional republicans, and perhaps more alarmingly, senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it th
vacation short to try to cut a deal as that fiscal cliff nears. now just six days until higher taxes for all americans. and tonight, a white house official is placing the burden of not getting a deal on leaders of congress. one official saying the hits from our economy are not coming from outside factors, they're coming from congressional stupidity. some members of congress do return tomorrow. these comments come just as barbara walters prepares for her "nightline" special tonight. her sitdown at the white house with the president and the first lady. and tonight here, some rare personal questions answered about their own relationship and their girls. one of whom just got her first cell phone. >> reporter: i want to talk a bit about the girls. we have been watching them grow up from little girls to young ladies. now, malia recently got her first cell phone. do you monitor it? and see who she calls or who she texts? >> i give my daughter, at this age, i give her a long rope. you know, and there is monitoring, because we have rules, but monitoring may be, you never know when i'm going t
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